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Business/Financial

L3Harris Posts Lower Earnings, Higher Sales In Second Quarter; Introduces Guidance

By Cal Biesecker

Wednesday, July 31st, 2019

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L3Harris Posts Lower Earnings, Higher Sales In Second Quarter; Introduces Guidance

L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

Reporting for the first time since the close of Harris Corp.’s acquisition of L3 Technologies in late June, L3Harris Technologies [LHX] on Wednesday posted unaudited second quarter financial results with net income down due to merger and integration costs and sales up. Unaudited net income fell 19 percent to $482 million, $2.12 earnings per share (EPS), from $592 million ($1.75 EPS), due to merger and integration costs associated with the Harris deal for L3. Excluding these costs, adjusted operating income…

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